James Joseph Cramer is an American television personality who is known for hosting and anchoring shows that are related to finance and investments. Jim Cramer is the current host of ‘Mad Money’ which is broadcasted on CNBC.
The program mainly focuses on topics like investments and other speculations regarding revenue and finance, mainly of public company stocks.
Apart from that program, he is also an anchor for ‘Squawk on the Street’ which is a business show also for CNBC. The program follows the first 90 minutes of trading on Wall Street.
Apart from his career as a television host and anchor, Cramer is also an established author. As his career is focused on finance, the books that are written by Cramer like ‘Jim Cramer’s Real Money; Sane Investing in an Insane World,’ Jim Cramer’s Mad Money: Watch TV, Get Rich,’ and Jim Cramer’s Get Rich Carefully’ also are written around the subjects of finance and investments.
Jim Cramer – Early Life
Jim Cramer is the son of Louise A. Cramer and N. Ken Cramer was born on February 10, 1955. Born in Wyndmoor, Pennsylvania, Cramer spent almost his entire childhood, including his school days in and around the suburb of Philadelphia.
He attended Springfield Township High School. His father N. Ken Cramer owned a company that sold commodities like wrapping papers, bags, and boxes while his mother used to work as an artist.
Cramer was interested in investment from a very young age. He was introduced to the topic when he was just a fourth-standard student. Cramer continued his study in the field all throughout high school.
Cramer completed his higher education at Harvard College, where he earned a bachelor’s degree in government. He was also a national merit scholar during his time in college. Before choosing a career in finance or investments, Cramer used to work as a reporter.
During his career as a reporter, Cramer worked for firms like Tallahassee Democrat, Los Angeles Herald Examiner, and American Lawyer.
Cramer also received a Juris Doctor from Harvard Law School and it was during his time at the law school that Cramer became active and interested in investments.
He first started investing in the stock market during his studies and was able to make enough to cover his tuition fee.
Jim Cramer – Career
Jim Cramer started his career in investments and sales in 1984, when he started working for the popular investment firm Goldman Sachs.
Even though Cramer held a degree from Harvard Law school, and even after being admitted to the New York State Bar in 1985, Cramer did not take up the profession of a lawyer, and subsequently, as his license was not renewed, his license to practice law was suspended in 2009.
After working at Goldman Sachs for around three years, Cramer left the firm and started a hedge fund in 1987, named Cramer & Co. It was later renamed Cramer, Berkowitz, and Co.
Even though Cramer has been revealed to have taken home around $10 million a year and sometimes more, his claim has been disputed by many. In 2001, Cramer left his job of managing a hedge fund, and his firm was completely taken over by his partner Jeff Berkowitz.
Another significant milestone in the career of Jim Cramer is the website TheStreet.com. It was an investment website with a special focus on financial news. The initiative was a success and it was acquired by TheMaven in 2019 for around $16.5 million.
CNBC has a major role to play in the career of Jim Cramer. The association between Cramer and the media firm dates back to the 1990s when he was a frequent guest on different programs on the channel.
Before landing his major appearance on CNBC through Mad Money, Jim Cramer appeared as a co-host on the show Kudlow & Cramer from 2002 to 2005. Finally, in 2005, Mad Money with Jim Cramer aired on CNBC for the first time.
Apart from his major appearance as the anchor or host of any show, Cramer has also appeared on different popular television programs like NBC Nightly News, Late Show with David Letterman, Jimmy Kimmel Live, The Tonight Show with Jay Leno, and many more.
He has even made an appearance in the motion picture Iron Man, which was released in 2008.
Jim Cramer – Controversies
Being a popular figure, Jim Cramer has also become the center of different controversies in his career. One of the major criticisms faced by Cramer is regarding the performance of Jim Cramer’s investments.
Cramer has claimed a ‘rate of return of 24% after all fees for 15 years’ and up to a time period till 2001 when he finally retired from hedge fund.
Even though Cramer claims this result, it has not been verified independently. He has also landed himself in other controversies for incidents like criticizing the policies of former President Barack Obama, criticizing the federal reserves, and recently for addressing Nancy Pelosi, who has served as the speaker of the United States House of Representatives as ‘crazy Nancy’ in an interview.
Jim Cramer – Net Worth
Being successful in almost all areas that he is actively involved in, the recent reports place the net worth of Jim Cramer at $150 million. The report cites his successful career as a hedge fund manager as the major source of his income and net worth.
But that is not the only thing that has helped Cramer to achieve this huge fortune. TheStreet.com, the website started by Cramer has also contributed enormously to his net worth.
Even though Cramer stepped down from his career as a successful hedge fund manager, Cramer was able to find another successful alternative for his career as a television personality.
His association with different reputed media houses and being and also the job of being a permanent host/anchor at CNBC have also added to his net worth considerably.
Cramer did not stop there. He has also successfully added the title of the author along with his name and has written different books on topics like finance and investing. They were able to repeat the success that Cramer had in all other fields too.
Must Read:- Four Relief Payments Of Up To $3,284 Coming To Americans By Spring
Jim Cramer – Properties Owned
Even though he was born in Pennsylvania, Cramer currently resides in Summit, New Jersey. Cramer is reported to own a 65-acre estate in the countryside of New Jersey. While his wife is a successful real estate broker, she also works as the general manager of an Italian bistro in New York.
The couple also owns a restaurant and bar in Carroll Gardens named Bar San Miguel. Apart from this restaurant, Cramer also owns a summer house on Long Island.
Jim Cramer – Personal Life
Jim Cramer had been married twice in his life. He first got married to Karen Backfisch in 1988. The couple stayed together till 2009 and finally got separated that year. They have two children together.
Jim Cramer got married again to Lisa Cadatte Detwiler in 2015. She is a real estate broker. They had been staying together since their marriage.
Read More:- TurboTax: Everything You Need To Know!
